The real estate market is largely dependent on realtors. Realtors offer great services but sometimes buyers or sellers would like to have more flexibility in how they approach the market. For example, if a couple is shopping for a new home they will often contact a realtor. The realtor looks for available homes in the couple's desired location and price range and sets appointments for viewings. The realtor brings great knowledge to the process regarding locations, costs, and other market factors. But the process of setting appointments, and wrestling with the schedules of the people involved can be difficult and time consuming. It would be great to have a tool that could interface buyers and sellers directly, allowing greater flexibility and efficiency in setting appointments and viewings.
Along with creating efficiencies in setting viewings, it would be great to have a tool that interfaces buyers and sellers with regard to real estate listings. It can be difficult for a seller to know how to list his home for sale, how to publish, etc., and buyers may not know where to go to see what homes are for sale. Both sides end up going to realtors and letting them do the listing and/or searching.
The real estate market currently uses lockboxes placed on a door knob or porch of a listed house. These lockboxes contain a key to the house. Often times a code or other unlocking mechanism for the lockbox is known only to licensed realtors. These lockboxes allow a realtor to access and show a house when the owner is unavailable. These lockboxes are helpful but the market could use a lockbox with increased capabilities and availability. For example, users would love to be able to buy their own lockbox and manage it via a wireless connection. Users would love to be able to lock and unlock the lockbox remotely. Users could get a notification that a buyer would like to view the house and the owner could view and approve the visit remotely.
A tool with the capabilities described above would especially be helpful for sellers. Sellers pay the realtors' fees, often six percent (three percent each to the buying and selling realtors). Realtors provide valuable services but some sellers have less financial flexibility. Tools allowing home owners to sell independently would be very helpful.